As we bid farewell to another eventful year, we would like to take a moment to reflect on the journey that 2023 has been. This year has been marked by significant milestones, changes, and an unwavering dedication to delivering unparalleled value to our introducers and their clients.
Momenta Finance Wrapping up 2023
With a rebrand from Merchant Money to Momenta Finance, we’ve not only embraced a new identity but also signified our commitment to evolution and progress.
One of the cornerstones of our success this year has been the securing of two major funding lines, a testament to the trust and confidence our partners have in us. Barclays Bank PLC and Quilam Capital extended a substantial £115 million funding line, allowing us to enhance both unsecured and secured business loans, as well as offer a highly competitive bridging loan option with an additional £50 million funding line from a reputable bank.
In a bid to enhance user experience and streamline our services, we successfully launched an improved broker portal and decision engine. This technological advancement has not only simplified the application process but also enabled us to provide faster feedback, immediate indicative pricing, and real-time notifications to brokers. A staggering 75% of all our deal submissions now come through brokers via the portal, contributing to a remarkable 145% increase in originations.
In the period from 01 January to 30 November 2023 Momenta Finance experience a 55% growth in assets under management. The diverse nature of our lending is reflected in our strong support across multiple sectors, contributing over 5% to our assets under management. These sectors include Manufacturing and Engineering, Non-property construction & development, Professional and Business Support, Small builders/construction, Wholesale, and Property development. This robust and diversified portfolio not only underscores our commitment to meeting the unique financial needs of various industries but also solidifies our position as a trusted partner in the ever-evolving landscape of financial solutions.
The dedication and hard work of our sales team did not go unnoticed this year. We were honored to be shortlisted for the Unsecured Lender of the Year at the NACFB Lender Awards. Additionally, our team actively participated in various industry events, including broker end-of-year lunches, the Goodwood Car Festival, and numerous conferences and meet-the-funders sessions.
Team Growth and Personal Milestones
Momenta Finance is not just a business; it’s a family. This year, our team expanded with the addition of Jeremy as a Sales Director, joining Tom in leading our sales efforts. We also welcomed Kim to the credit team, contributing her expertise to our underwriting department. Amidst professional growth, our team celebrated personal milestones as three members prepared for parenthood.
The successes and challenges of 2023 have strengthened our resolve to innovate, grow, and continue delivering exceptional financial solutions. We express our heartfelt gratitude to our introducers, partners, and clients for their trust and collaboration throughout the year.
About Momenta Finance
Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta offers a panorama of lending options, including unsecured and secured business finance, bridging and cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.